The largest World Bank loan for the health sector in India, $1 Billion Loan.

[jamahir]

India takes loan on its oen terms and does.l not beg.

Whats the big deal here?

The big deal is that Modi can spend :

1. 8400 crores on buying two American planes that are the equivalent of the American Air Force One. Just a needless vanity purchase.

2. 971 crores on the new unnecessary parliament building.

3. 2989 crores on the Vallabhbhai Patel statue, the current world's tallest statue.

4. 300 crores on the upcoming Ram temple.

5. 2500 crores on the proposed Ram statue, the proposed next world's tallest statue.

But Modi cannot spend on providing homes to the homeless, food to the hungry, sight to the blind, treatment to the diseased and upliftment to the Dalits, the Muslims, the farmers, the students and yes the beggars that you mention.

Yes, Modi can spend to maintain the huge Indian military which is the world's second-largest importer of armaments.

Yet Modi says he cannot take away money from all his unnecessary spendings and has to take a loan from the World Bank towards Corona response.

The first phase of the operation will be implemented countrywide through the Pradhan Mantri Garib Kalyan Yojana (PMGKY).

Pradhan Mantri this, Pradhan Mantri that... Every other second government scheme in Modi's name, while Modi is the serving PM, not someone who has died decades ago. Let me hark back to some years when he wore a 10 lakhs costing suit that had "Narendra Damodardas Modi" written repeatedly in small print all over it. And then it was auctioned as if it was some timeless work of art and some idiot bought it for 11 lakhs.

This fellow is so vain, so full of himself. Yet his bhakts keep praising him effusively.

And he presents himself as origining as a humble tea-seller in his youth.

China is still getting World Bank loans

Yeah, it's only logical they take loans when they can instead of using their own money.

What about crooks in India proudly and boringly saying that India is one of the world's largest economies ( 5th as of 2019 ) ? Why did India need to take this measly two billion dollar loan ? And how has that "largest economy" status actually benefited India's people ?

India is so rich yet needs 1 billion???

Think about this contradiction in India. Modi's dear friend Mukesh Ambani built a 27-storey house for a family of four ( now five ) while not far away from it there are people living in jhuggis with four to five people in cramped two or one rooms. Not to speak of people not having food in many places in the country.

And Ambani's fellow-rich-man Ratan Tata has this to say about that tower "house" :

Public reception

Tata Group former chairman Ratan Tata said Antilia is an example of rich Indians' lack of empathy for the poor. Tata said, "The person who lives in there should be concerned about what he sees around him and asking can he make a difference. If he is not, then it's sad because this country needs people to allocate some of their enormous wealth to finding ways of mitigating the hardship that people have." "It makes me wonder why someone would do that. That's what revolutions are made of.

Has Modi made a mention about the incongruity of this building in his six years of prime ministership ? But a communist leader in Bombay did say some months ago that this building's most floors should be used as treatment rooms for Corona. Needless to say his proposal was not listened to by Ambani and his patrons.

we are poor nation but we dont beg from friends to pay our loans .

Sure, "poor nation". 5th largest economy in 2019 and read my previous posts.

And how is India not "begging" ?

 

[nahtanbob]

What about crooks in India proudly and boringly saying that India is one of the world's largest economies ( 5th as of 2019 ) ? Why did India need to take this measly two billion dollar loan ? And how has that "largest economy" status actually benefited India's people ?

If you are going to borrow you might as well borrow it from the World Bank.
Being the world's largest economy does not mean you bailout everyone

 

[jamahir]

If you are going to borrow you might as well borrow it from the World Bank.

That is besides the point. Though it could have been from another source like Russia, if that was possible.

Being the world's largest economy does not mean you bailout everyone

My point is that the Indian government has the economic, human and material resources to create an actual and functioning welfare state. Yet it reserves those resources to create useless projects like those five I listed at the top of my post and the huge military.

And yes, it is the government's necessary duty to bailout its people ( the "everyone" you mentioned ), whether for a pandemic or for other needs, especially when it proudly claims to be the world's largest economy.

What is the use otherwise ?

 

[I S I]

The big deal is that Modi can spend :

1. 8400 crores on buying two American planes that are the equivalent of the American Air Force One. Just a needless vanity purchase.

2. 971 crores on the new unnecessary parliament building.

3. 2989 crores on the Vallabhbhai Patel statue, the current world's tallest statue.

4. 300 crores on the upcoming Ram temple.

5. 2500 crores on the proposed Ram statue, the proposed next world's tallest statue.

But Modi cannot spend on providing homes to the homeless, food to the hungry, sight to the blind, treatment to the diseased and upliftment to the Dalits, the Muslims, the farmers, the students and yes the beggars that you mention.

Yes, Modi can spend to maintain the huge Indian military which is the world's second-largest importer of armaments.

Yet Modi says he cannot take away money from all his unnecessary spendings and has to take a loan from the World Bank towards Corona response.



Pradhan Mantri this, Pradhan Mantri that... Let me hark back to some years when he wore a 10 lakhs costing suit that had "Narendra Damodardas Modi" written repeatedly in fine print all over it. And then it was auctioned as if it was some timeless work of art and some idiot bought it for 11 lakhs.

This fellow is so vain, so full of himself. Yet his bhakts keep praising him effusively.

And he presents himself as origining as a humble tea-seller in his youth.





What about crooks in India proudly and boringly saying that India is one of the world's largest economies ( 5th as of 2019 ) ? Why did India need to take this measly two billion dollar loan ? And how has that "largest economy" status actually benefited India's people ?



Think about this contradiction in India. Modi's dear friend Mukesh Ambani built a 27-storey house for a family of four ( now five ) while not far away from it there are people living in jhuggis with four to five people in cramped two or one rooms. Not to speak of people not having food in many places in the country.

And Ambani's fellow-rich-man Ratan Tata has this to say about that tower "house" :

Has Modi made a mention about the incongruity of this building in his six years of prime ministership ? But a communist leader in Bombay did say some months ago that this building's most floors should be used as treatment rooms for Corona. Needless to say his proposal was not listened to by Ambani and his patrons.



Sure, "poor nation". 5th largest economy in 2019 and read my previous posts.

And how is India not "begging" ?

Lovely post bro.

And yes, it is the government's necessary duty to bailout its people ( the "everyone" you mentioned ), whether for a pandemic or for other needs, especially when it proudly claims to be the world's largest economy.

*Democracy

 

[GHALIB]

Yiu have no friends so you beg the whole world....as in the world bank..
Try to be a little smart b4 answering. Think of how easy you make it for everyone to slap you

not friends
masters .

 

[jamahir]

Lovely post bro.

Thank you.

*Democracy

Yeah, India is "the world's largest democracy". And an oppressive and burdensome system to its people in reality.

 

[Trango Towers]

not friends
masters .

Looool...if that's what floats your boat ... OK.
Who hasn't ruled india

 

[Type59]

India the federal and state governments are in the red. State owned banks have huge debts. Long live Modi

 

[Markandeya]

The logic is...these loans carry very low interest rate. You borrow cheap and lend it to other countries with high margin...who otherwise cannot borrow at cheap pricing.. Even China does this ...


All of CPEC projects are actually not investments by China but loans at a very very high / commercial interest rate. In this forum people call it investment. They do not know the difference between loans extended for some project and investments. Big difference....and if it is at high interest rate....its very very risky.

Worst part is it runs from legally Indian territory and tomorrow if India claims it back....its big loss to Pakistan ( and not China, mind it).

 

[jamahir]

The logic is...these loans carry very low interest rate. You borrow cheap and lend it to other countries with high margin...who otherwise cannot borrow at cheap pricing.. Even China does this ...

Never mind about China. Let's talk about the OP. What was the need for "5th largest economy as of 2019" India to borrow two billion dollars ?

 

[charene514]

But why? India has more than 500 billion USD in reserves, surely they can spare this 1 billion for other countries.

Still jelly that world bank rejected your application on the grounds of fraud / lying / and misappropriation ?

The logic is...these loans carry very low interest rate. You borrow cheap and lend it to other countries with high margin...who otherwise cannot borrow at cheap pricing.. Even China does this ...


All of CPEC projects are actually not investments by China but loans at a very very high / commercial interest rate. In this forum people call it investment. They do not know the difference between loans extended for some project and investments. Big difference....and if it is at high interest rate....its very very risky.

Worst part is it runs from legally Indian territory and tomorrow if India claims it back....its big loss to Pakistan ( and not China, mind it).

If pakistanis understood the difference between assets and liabilities, they would not be in current situation !!

 

[Markandeya]

Never mind about China. Let's talk about the OP. What was the need for "5th largest economy as of 2019" India to borrow two billion dollars ?

Even USA borrows.

If you as an individual can borrow at 8 % and are able to get an FD at 9%.....it makes sensible logic to borrow.

India has given credit lines to Vietnam, Srilanka, Bangladesh etc....they buy Indian goods using it at rate higher than what India pays to World Bank.

 

[jamahir]

Even USA borrows.

If you as an individual can borrow at 8 % and are able to get an FD at 9%.....it makes sensible logic to borrow.

India has given credit lines to Vietnam, Srilanka, Bangladesh etc....they buy Indian goods using it at rate higher than what India pays to World Bank.

Dear sir, you have put some thought to the economic details of international loans but think of this : Couldn't Modi get his dear friend Mukesh Ambani, the richest person in India, to give the government two billion dollars as a goodwill gesture for this Corona expenditure ?

To say about bit about Ambani's personal capitalist economy for your benefit, he has a net worth of 88.7 billion dollars as of 2020. Can't he invest two billion out of this in the welfare of Indians ? If Bill Gates and Azim Premji can be charitable why can't Ambani ?

 

[Markandeya]

Dear sir, you have put some thought to the economic details of international loans but think of this : Couldn't Modi get his dear friend Mukesh Ambani, the richest person in India, to give the government two billion dollars as a goodwill gesture for this Corona expenditure ?

To say about bit about Ambani's personal capitalist economy for your benefit, he has a net worth of 88.7 billion dollars as of 2020. Can't he invest two billion out of this in the welfare of Indians ? If Bill Gates and Azim Premji can be charitable why can't Ambani ?

Per rupee spent by Ambani is better used in the upliftment of India than if donated to Govt. Ambani should create jobs, save precious fx of india by getting investments in his projects and building in India. His 5G investment and projects needs to be lauded. Because of him we have cheapest data in the world. Long live Ambani. Bless him.

No we dont want him to donate money to be wasted on MSP . We want him to create more jobs for Indians.

 

[Trango Towers]

India the federal and state governments are in the red. State owned banks have huge debts. Long live Modi

But but india is rich and a superpower